COSCO Shipping Holdings Orders 18 Boxships for RMB20.27 billion, H1 Net Profit RMB13.42 billion

COSCO Shipping Holdings announced on the evening of August 28 that its wholly owned subsidiary COSCO Asset will order a total of 18 container vessels, with an aggregate transaction price of approximately RMB20.27 billion. Under the plan, COSCO Asset will order 12 LNG dual-fuel container ships of 22,000 TEU each from Shanghai Waigaoqiao Shipbuilding and China Shipbuilding Trading at a unit price of USD224 million (about RMB1.52 billion). It will also order six new wide-beam container ships of 3,200 TEU each from Huangpu Wenchong and China Shipbuilding Trading at a unit price of RMB339.8 million. The transaction does not constitute a connected transaction.

The company said the transaction will help the group prudently increase its fleet capacity, aligns with the global development strategy of its container shipping business, and will not adversely affect the group's financial condition or operating results. It will not create new connected transactions or horizontal competition, nor will the shipbuilding agreements themselves have a direct material impact on the group's profitability.

COSCO Shipping Holdings also released its 2026 interim report. In the first half of 2026, the company recorded operating revenue of RMB111.92 billion, up 2.59% year on year, and net profit attributable to shareholders of RMB13.42 billion, down 23.48% year on year. The company plans an interim cash dividend of RMB0.43 per share (before tax), with a total payout of RMB6.57 billion, representing 49% of attributable net profit. Since July, the company's share price has risen, reaching a high of RMB17.53 per share this week, the highest in nearly 18 years, with a latest market capitalisation of RMB257.7 billion.